If you're up to your nose hairs in negative news this week, take my hand as we go over some of the more uplifting headlines of the week. There was more in the news than just layoffs, missed earnings, and guidance knockdowns this week.
1. You go, Rick
I'll let you come up with your own stimulus package punch-line as we get into today's news out of strip-club operator Rick's Cabaret
Rick's Cabaret has been doing a lot of buying in this highly fragmented sector and padding the top-line gain in the process. However, even on a comps basis, same-club sales were up an impressive 8%.
You're not seeing that kind of unit-level growth in most dining, drinking, and entertainment concepts. The other company to come through with news of an 8% spike in comps last month was Dollar Menu haven McDonald's
Hmmm. The two places where waving a dollar bill will suffice are doing well. Go figure.
2. SINA evil
If watching your stateside stocks miss Wall Street's profit targets has you down, maybe a passport is in order. Many Chinese tech stocks have delivered better-than-expected results this past quarter, and that includes SINA
Revenue soared 64% to $105.4 million in its third quarter. Adjusted earnings climbed 40% to $0.44 a share. Analysts would have settled for $0.41 a share in profitability, making this 11 quarters in a row in which SINA has beaten bottom-line expectations.
3. Big G gets bigger
4. No Swiss miss here
Athletic-footwear maker K-Swiss
I'm not typically a fan of these one-time payouts. Sending these dividends in December also creates a taxable event for its investors. However, the company's balance sheet is flush with $290 million in cash. K-Swiss certainly has the flexibility to return some of that money to its shareholders.
5. Good news, Siriusly
Did you catch this week's earnings report out of Sirius XM Radio
Sure, there are high refinancing hurdles looming next year. I'm also not happy at all with Sirius XM's decision to replace some of my favorite XM stations with Sirius channels featuring thinner playlists and chattier DJs. However, the company is heading operationally in the right direction.
6. Real estate wins for a change
Commercial real estate services company CB Richard Ellis
Sure, the company did have to settle. The new shares were priced at $3.77 apiece, a far cry from the 52-week high of $24.75. However, successfully tapping the market for additional liquidity at a time like this is special.
So there you have it! Good news is out there, if you know where to look. Now I have to wonder what will happen if I wave four shares of Sirius XM Radio stock at a McDonald's or a strip club.
I'll get back to you on that.